All the villains have only one goal: to kidnap customers from the shores of your retail stores. And in most cases, tie them up in the dungeon of your competitors, forever. There is also the supervillain, hell-bent on blocking the retailer from reaching out to the customer. We call him the devil. Remember, the devil is in the retail.
Let’s start with a consumer’s wallet; the old-school, physical variety. The wallet has compartments to store cash, stack prepaid cards, among others. In effect, all the currencies a consumer will have a need for during a transaction.
The truth is, there is no other way to handle an irate customer. Your apology could diffuse the issue but to win him over, you must do something more. Because not every retailer can afford to have Walmart’s EDLP (Everyday Low Price) advantage.
Welcome to ‘Insight Inside,’ a new series of knowledge posts, crafted exclusively to bring to you those insider insights that have not been spoken aloud in the retail and e-tail circles.
Cinema occupies a unique place in the service sector. It is product-driven (movies) but has relatively lower product differentiation. Customers have a lower affinity towards brands (multiplexes); choices are driven by proximity and price.
The Retail Advantage Playbook is an info-bite, meant for business owners in the retail and e-tail space.
The HR guy. The only professional who is consistently burning the midnight oil, trying to make ends meet at your workplace. And we don’t blame you for it. In fact, we admire you for your work.
The point-of-sale system should have been the endgame for retail. It has access to complete data on sales, inventory, customer etc. It can even tell you ‘what’ was bought, by ‘whom’.
One of India’s retail pioneers, Future Group wanted to chalk a comprehensive program to improve footfalls and drive sales. The company chose Qwikcilver’s proven and proprietary Gift Card processing suite of products. What follows is a chronicling of our path to success.
A gift card is fundamentally different from a gift voucher. A gift voucher is a prepaid currency, one another medium of transaction. But a gift card carves a new revenue stream. It provides another reason for the shopper to buy.